What does L1 chain mean? A simple article explaining L1 chain

L1 chain, also known as the first-level blockchain, is the base layer protocol of the blockchain ecosystem. They provide a platform that allows developers to build applications and services on top of it. Core features of L1 chains include consensus mechanisms (such as proof-of-work or proof-of-stake), decentralization, and programmability.

What is L1 chain?

L1 chain, that is, the first-level blockchain, is the category of the underlying protocol in blockchain technology. The L1 chain provides the infrastructure that allows developers to build applications and services on top of it.

Features of the L1 chain:

• Consensus mechanism: The L1 chain is responsible for verifying and recording transactions, using a consensus mechanism such as workload Proof of Stake or Proof of Stake) to reach consensus.
• Decentralization: The L1 chain is controlled by the community rather than a single entity, making it decentralized and everyone can participate in verifying transactions.
• Programmability: L1 chains are often programmable, allowing developers to create smart contracts, code that automatically executes transactions.

Main Types of L1 Chains:

• Bitcoin (BTC): The first blockchain to use works Quantity proof consensus mechanism.
• Ethereum (ETH): A mainstream smart contract platform that uses a proof-of-stake consensus mechanism.
• Solana (SOL): Known for low transaction fees and high throughput.
• Cardano (ADA): Focused on scalability and security, using a proof-of-stake consensus mechanism.
• Polkadot (DOT): is a multi-chain platform that allows different blockchains to communicate with each other.

Advantages of L1 chain:

• Safety and reliability: Consensus mechanism and decentralized features ensure L1 chain security.
• Decentralization: The L1 chain has no central point of control, making it less vulnerable to attack or censorship.
• Programmability: Smart contract functionality allows developers to create innovative applications and services.

Limitations of L1 chains:

• Scalability: Some L1 chains may not handle a large number of transactions Facing scalability issues.
• Transaction Fees: Transaction fees for L1 chains may vary depending on the popularity of the chain and network congestion.
• Competitors: L1 chain faces competition from other blockchain platforms as well as centralized systems.

The above is the detailed content of What does L1 chain mean? A simple article explaining L1 chain. For more information, please follow other related articles on the PHP Chinese website!